There's some promising news for the economy. Last month, nearly 200,000 new jobs were created and the unemployment rate has stayed the same. But is this an uptick indicator?
Roughly 195,000 new jobs were created in June, steadying the unemployment rate at 7.6%. Market watchers say the country is slowly climbing out of the recession.
Texas-based financial strategist Clark Hodges says the latest job numbers are showing just that.
"The interesting part is unemployment rates stayed the same. But, the market is taking that as good news," said Hodges. "More people are getting back into the work pool because they're feeling better about the economy."
According to the Labor Department, there's an uptick in growth in sectors like hospitality, healthcare, and retail. But those are just a few. The growth is broad across industries but in a few states, Louisiana being one of them, the energy industry is helping keep those job numbers afloat.
"The energy sector is probably the best sector right now for employment," said Hodges. "There are a lot of those shale companies across the country."
Hodges says Texas, Louisiana, North and South Dakota are showing the strongest economies—no doubt because of the oil and gas industry. And although government reports show consumer spending is still down, the recovering housing market may be a catalyst for change.
"When the housing market comes back, the American consumer feels wealthier because they feel their house value is going up," said Hodges. "And they feel better about their overall economic situation."
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